LIND Long Put Strategy

LIND (Lindblad Expeditions Holdings, Inc.), in the Consumer Cyclical sector, (Travel Services industry), listed on NASDAQ.

Lindblad Expeditions Holdings, Inc. delivers diverse adventure travel experiences, encompassing both marine expeditions and land-based journeys. Through its primary Lindblad brand, the company orchestrates voyages utilizing a fleet comprising ten proprietary expedition vessels and five ships chartered on a seasonal basis. Furthermore, it manages several distinct travel brands: Natural Habitat specializes in eco-conscious, nature-focused small-group tours; DuVine offers upscale cycling and adventure excursions globally; Off the Beaten Path curates active small-group and bespoke private trips within the United States' national parks; and Classic Journeys designs active small-group and custom private itineraries, distinguished by guided walks led by local experts often evoking cinematic landscapes. The organization also maintains a strategic collaboration with the National Geographic Society. Founded in 1979, Lindblad Expeditions Holdings, Inc. is based in New York, New York.

LIND (Lindblad Expeditions Holdings, Inc.) trades in the Consumer Cyclical sector, specifically Travel Services, with a market capitalization of approximately $2.20B, a beta of 2.25 versus the broader market, a 52-week range of 11.37-35, average daily share volume of 838K, a public-listing history dating back to 2013, approximately 1K full-time employees. These structural characteristics shape how LIND stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 2.25 indicates LIND has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.

What is a long put on LIND?

A long put buys downside exposure with a fixed maximum loss equal to the premium paid; profit accrues if the underlying closes below the strike minus premium at expiration.

LIND snapshot

As of August 14, 2026, spot at $33.42, ATM IV 35.10%, IV rank 1.69%, expected move 10.06%. The long put on LIND below is built from the end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 35-day expiry.

Why this long put structure on LIND specifically: LIND IV at 35.10% is on the cheap side of its 1-year range, which favors premium-buying structures like a LIND long put, with a market-implied 1-standard-deviation move of approximately 10.06% (roughly $3.36 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated LIND expiries trade a higher absolute premium for lower per-day decay. Position sizing on LIND should anchor to the underlying notional of $33.42 per share and to the trader's directional view on LIND stock.

LIND long put setup

The LIND long put below is built from the end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With LIND at $33.42 on that close, the first option leg uses a $33.42 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed LIND chain at a 35-day expiry; the cross-strike IV skew is reflected directly in the per-leg values rather than approximated. Quantity sizing assumes one contract per option leg (or 100 LIND shares for the stock leg in covered calls and collars).

ActionTypeStrike / BasisPremium (est)
Buy 1Put$33.42N/A

LIND long put risk and reward

Net Premium / Debit
N/A
Max Profit (per contract)
Unbounded
Max Loss (per contract)
Unbounded
Breakeven(s)
None on modeled curve
Risk / Reward Ratio
N/A

Max profit equals the strike minus premium times 100 (reached at zero); max loss equals the premium times 100. Breakeven is strike minus premium.

LIND long put payoff curve

Modeled P&L at expiration across a range of underlying prices for the long put on LIND. Each row is one sampled price point from the computed payoff curve; the full curve uses 200 price points internally before being summarized into 10 rows here.

When traders use long put on LIND

Long puts on LIND hedge an existing long LIND stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying LIND exposure being hedged.

LIND thesis for this long put

The market-implied 1-standard-deviation range for LIND extends from approximately $30.06 on the downside to $36.78 on the upside. A LIND long put expresses a directional view that the underlying closes below the strike minus premium at expiration, frequently sized to hedge an existing long LIND position with one put per 100 shares held. Current LIND IV rank near 1.69% sits in the lower third of its 1-year distribution, where IV often re-expands toward the mean; this favors premium-buying structures and disadvantages premium-selling structures on LIND at 35.10%. As a Consumer Cyclical name, LIND options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to LIND-specific events.

LIND long put positions are structurally bearish; the modeled P&L assumes European-style exercise at expiration and ignores early assignment, transaction costs, dividends paid before expiry on the stock leg (when present), and the bid-ask spread on the listed chain. LIND positions also carry Consumer Cyclical sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move LIND alongside the broader basket even when LIND-specific fundamentals are unchanged. Long-premium structures like a long put on LIND are particularly exposed to IV-crush risk through scheduled events (earnings, FDA decisions, central-bank meetings) where IV typically contracts post-event regardless of the directional outcome. Always rebuild the position from current LIND chain quotes before placing a trade.

Frequently asked questions

What is a long put on LIND?
A long put on LIND is the long put strategy applied to LIND (stock). The strategy is structurally bearish: A long put buys downside exposure with a fixed maximum loss equal to the premium paid; profit accrues if the underlying closes below the strike minus premium at expiration. With LIND stock at $33.42 on the most recent close, the strikes shown on this page are snapped to the nearest listed LIND chain strike and the premiums come straight from that session's bid/ask midpoint.
How are LIND long put max profit and max loss calculated?
Max profit equals the strike minus premium times 100 (reached at zero); max loss equals the premium times 100. Breakeven is strike minus premium. For the LIND long put priced from the end-of-day chain at a 30-day expiry (ATM IV 35.10%), the computed maximum profit is unbounded per contract and the computed maximum loss is unbounded per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a LIND long put?
The breakeven for the LIND long put priced on this page is no defined breakeven on the modeled curve at expiration, derived from the end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The LIND market-implied 1-standard-deviation expected move in the same options snapshot is approximately 10.06%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a long put on LIND?
Long puts on LIND hedge an existing long LIND stock position or express a bearish view with defined risk; position sizing typically scales the put notional to the underlying LIND exposure being hedged.
How does current LIND implied volatility affect this long put?
LIND ATM IV is at 35.10% with IV rank near 1.69%, which is on the low end of its 1-year range. Premium-buying structures (long call, long put, debit spreads) are relatively cheap in this regime; premium-selling structures collect less credit per unit risk.

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